The modern corporate board has to be prepared to face a wide range of challenges. Not only is there an imperative to keep the organization on track and ensure that executives are discharging their duties, forward-thinking boards also need to be keeping an eye on the developments that may shape the future of their industry.
In an age of disruption, even the most established companies often become victims of their own complacency. The past decade has shown that no business model is so perfect it can't be subverted by new technologies and new ways of thinking. A responsible board is a board that can anticipate and respond to these challenges proactively.
But in order to do that, boards need to be able to communicate clearly and effectively, and in many cases this means adopting secure board portal software that can help board members network and engage with board materials in an efficient way.
Board Portals: A Gateway To Efficiency
Board portals are a platform for sharing documents in a secure and instantaneous way. Many boards have directors who work remotely, and mailing physical copies of board documents to people living in other provinces, states, cities, and countries can be time consuming and expensive.
But while creating a secure, easily accessible digital document archive is the most basic service a portal software provides, many board portal software developers also offer a range of tools to help board members discuss board business and collaborate on board-related projects.
This means directors equipped with the latest board portal software are able to log on to their portal through a desktop or mobile app and manage all board business through a single platform.
Not only does this save time and money when sending out the board book in preparation for quarterly and annual meetings, it also empowers board members to get more work done remotely so that the meetings themselves can be dedicated to bigger picture discussion and visioning for the future. A board equipped with portal software is a board that can quickly and efficiently respond to issues as they arise.
As The Board Goes, So Goes The Organization
As anyone with extensive experience working with boards knows, the engagement and passion of the board members is often a good barometer for the state of morale across the whole organization.
Boards that develop good communication and information sharing practices can play a vital role in setting the tone for the executive and staff as well. A board whose members have a good collegial relationship with each other, and who demonstrate respect for each other's roles and a sense of ownership over their own, will encourage other levels of administration to do the same.
This is why it is important for boards to lead from the front by modelling what good communication looks like.
In the 21st century, new technological breakthroughs and innovative new business models are fundamentally re-shaping the industrial and service economies. Growing a successful business or maintaining an established one requires fresh thinking, and that is just as true for board members as it is for product designers and marketing teams.
If these challenges are to be met, you need to make sure your board members are equipped with the tools that will allow them to work together to ensure their organization makes the most of this exciting new world.
